Plain English Breakdown
The official source material does not specify whether the amendment ensures continued funding for affordable housing units, only that it extends and assigns the existing subsidy contract.
Approval of Contract Changes for Mozart Apartments
The District of Columbia Housing Authority, Jubilee Housing Limited Partnership, and Jubilee ADMO Apartments LP have agreed to extend a long-term subsidy contract for the Mozart Apartments by 20 years.
What This Bill Does
- Extends the long-term subsidy contract for the Mozart Apartments for another 20 years.
- Assigns the existing subsidy contract from Jubilee Housing Limited Partnership to Jubilee ADMO Apartments LP.
Who It Names or Affects
- The District of Columbia Housing Authority
- Jubilee Housing Limited Partnership
- Jubilee ADMO Apartments LP
Terms To Know
- Long-Term Subsidy Contract (LTSC)
- A contract that provides financial support for a long period to help cover housing costs.
- Affordable Housing Units
- Housing units that are priced so people with lower incomes can afford them.
Limits and Unknowns
- The resolution does not provide details on the financial impact or specific terms of the subsidy contract.
- It is unclear how this extension will affect future funding for other housing projects in the District.